YOUR EGO: It wants you to PROVE you are right, it wants you to trade big, the ego wants you to be confident in your ability to trade before you are competent in your trading through the right education and experience. YOUR FEARS: Fear makes you afraid […]

Rallying on Friday in spite of all the overwhelming bad news of bombing in Iraq and Putin threatening Ukraine is a positive signal for bulls. If that news can’t take the market down, what can? Last week all support levels held and prices bounced, this is what you would expect for the long term uptrend

CYNK market cap still $131 Million. Not bad for a company without employees that doesn't exist — zerohedge (@zerohedge) August 7, 2014 Hope you are in cash — Mr. Breakout (@sharptraders) August 8, 2014 Technical analysis to me is the study of price, if you don't believe in it is there some exchange you've found

  I am currently long $TNA from Thursday, $UDOW from Friday, and $SPY from Thursday. At this point in the market the risk/reward favors the longs. I am using end of day stop losses to filter out the intra-day noise and the increase in volatility both ways.  My position sizes are big enough that they

                          Never trade based on your own emotions. Trading based on your own greed or fear will put you on the wrong side of the market the majority of the time. To be a great trader you must stay humble. Big egos will

So far, so good….. Previous day support holds. Prices close above the previous days high. On the daily chart, the 30 RSI holds by end of day. A new trading range has developed over multiple days. The volatility expansion to the upside is greater than the volatility to the downside.

 The $DIA, $QQQ, and $SPY are still in long term up trends so far. Only $IWM has broken the long term uptrend by closing below the 200 day. $IWM has been the weakest index and $QQQ has been the strongest.  $SPY bounced near the 100 day and 30 RSI Friday. $DIA and $IWM did not